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2069 Chinaberry Lane New Braunfels, TX 78130

3 Beds 2 Baths 2,210 sqft Built 1985

$330,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $149.32
  • 3 Days on Market
  • MLS # : 2067978
  • Updated Date : 12/04/2020 at 20:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,210 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Heritage

Listing Agent's Description

Great opportunity to own a home within walking distance to the Guadalupe River! This unique property features 3 bedrooms/2 full baths and is 2210 sqft. This home has tons of space and is just waiting for your personal touch! The kitchen is open to the family and has tons of cabinet space, ceiling fan, and an island. The one car garage has been converted into two additional bedrooms but can easily be changed back. As an added bonus, the basement has been finished out to give extra space! Due to the dam breach in 2019 there is no water currently in the canal located right behind the property. Once the repairs to the dam Lake Dunlap will return and there will water in the canal. In the meantime, enjoy WALKING to the Guadalupe River!

SEE MORE

MARKET HIGHLIGHTS

  • Austin metro employment growth is at 3.4% and predicted to grow at 2.9% in 2019 (USMayors.org, 2018)
  • Companies with headquarters and major regional presence in Austin: Dell, Whole Foods, Apple, AMD, IBM, Flextronics, Google, Facebook, National Instruments, and Freescale Semiconductor. Apple announced an investment of $1 billion in a new 133-acre campus in Austin accommodating an additional 5,000 employees.
  • Austin metro has 70% labor force participation rate, one of the highest in the nation and higher than the national rate 62.8% (USMayors.org, 2018)
  • Austin ranks #7 in total venture capital deals flow with $1.84 billion venture funding flowing in to the metro in 2019, an increase of 19.5% from the previous year (Crunchbase News, 2020)
  • Austin metro contributes to 8.4% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 in U.S. Cities attracting the most workers and a preferred destination for job movers (LinkedIn, August 2018; Glassdoor May 2018 )
  • Austin metro economy is worth over $153 billion in Gross Metro Product and projected to grow to $162 billion in 2019 (USMayors.org, 2018)
  • #2 in Top 10 cities for entrepreneurs and start-ups (Business.org, 2018)
  • #3 on Best Cities for Renters (Smart Asset, July 2018)
  • #1 in 125 Best Places to Live in the USA (U.S. News, 2019)

PRICE & RENT TRENDS

Zip Code: 78130

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $91k269k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 78130

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8661700

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Klein Road Elementary School Primary Regular 728 43 6
New Braunfels Middle School Middle Regular 971 59 6
New Braunfels High School High Regular 1,711 94 6

Klein Road Elementary School

  • Education Level: Primary
  • # of students: 728
  • # of teachers: 43
6
GreatSchools Rating

New Braunfels Middle School

  • Education Level: Middle
  • # of students: 971
  • # of teachers: 59
6
GreatSchools Rating

New Braunfels High School

  • Education Level: High
  • # of students: 1,711
  • # of teachers: 94
6
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,218
Property Tax -$616
Property Insurance -$155
Property Management Fees -$99
CASH FLOW
-$177

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$330,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.41%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 9.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,849

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,910

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,674

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,5953$1,7754$1,8955$1,910
$1,910
RENT COMPS ANALYSIS
  • 2069 Chinaberry Lane New Braunfels, TX 5
    • 3 beds 2 baths ∙ 2,210 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,210 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.86
    •  
  • 309 Stone Gate Drive New Braunfels, TX 1
    • 3 beds 3 baths ∙ 2,029 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,029 Sqft ∙ Built 2001
    property image
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 2063 Dragon Trl New Braunfels, TX 2
    • 3 beds 3 baths ∙ 2,404 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,404 Sqft ∙ Built 2005
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.66
    •  
  • 2666 Dove Crossing New Braunfels, TX 3
    • 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 2010
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.81
    •  
  • 151 Meadow Path New Braunfels, TX 4
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2017
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.77
    •  
PROPERTY LISTING DETAILS
Pamela Smartt
1.830.237.1358
Keller Williams Heritage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Austin/Central Texas Realty Information Services ( ACTRIS)
MLS #: 2067978
Last Updated: 12/04/2020
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